Use the following information for questions 106 through 108.
Jamison Corp.'s balance sheet accounts as of December 31, 2015 and 2014 and information relating to 2015 activities are presented below. Information relating to 2015 activities:
$\bullet$Net income for 2015 was $1,300,000.
$\bullet$Cash dividends of $400,000 were declared and paid in 2015.
$\bullet$Equipment costing $1,000,000 and having a carrying amount of $320,000 was sold in 2015 for $360,000.
$\bullet$A long-term investment was sold in 2015 for $320,000. There were no other transactions affecting long-term investments in 2015.
$\bullet$20,000 shares of common stock were issued in 2015 for $25 a share.
$\bullet$Short-term investments consist of treasury bills maturing on 6/30/16.
-Net cash used in Jamison's 2015 investing activities was
A) $2,320,000.
B) $1,820,000.
C) $1,680,000.
D) $1,720,000.

Question

Use the following information for questions 106 through 108.
Jamison Corp.'s balance sheet accounts as of December 31, 2015 and 2014 and information relating to 2015 activities are presented below.  Information relating to 2015 activities:
$\bullet$Net income for 2015 was $1,300,000.
$\bullet$Cash dividends of $400,000 were declared and paid in 2015.
$\bullet$Equipment costing $1,000,000 and having a carrying amount of $320,000 was sold in 2015 for $360,000.
$\bullet$A long-term investment was sold in 2015 for $320,000. There were no other transactions affecting long-term investments in 2015.
$\bullet$20,000 shares of common stock were issued in 2015 for $25 a share.
$\bullet$Short-term investments consist of treasury bills maturing on 6/30/16.
-Net cash used in Jamison's 2015 investing activities was
A) $2,320,000. 
B) $1,820,000. 
C) $1,680,000. 
D) $1,720,000.

Quizplus · Accepted Answer

Net cash used in investing activities is calculated by summing all cash outflows and inflows related to investments, such as the purchase or sale of property, plant, and equipment, or investment securities. Without specific details on Jamison's investing activities, the correct answer cannot be determined from a calculation standpoint. However, based on the question's structure, if A is indicated as the correct choice, it suggests that the information provided elsewhere (not visible in this interaction) supports $2,320,000 as the net cash used in Jamison's 2015 investing activities.

Use the Following Information for Questions 106 Through 108 ∙\bullet∙ Net Income for 2015 Was $1,300,000

Use the Following Information for Questions 106 Through 108 $\bullet$ Net Income for 2015 Was $1,300,000